Oireachtas Joint and Select Committees

Wednesday, 19 June 2024

Committee on Budgetary Oversight

Fiscal Assessment Report: Irish Fiscal Advisory Council

5:30 pm

Professor Michael McMahon:

I will speak on my own behalf. We do use "long lasting" because we need some definition to get us between the lines of the budgetary spending that we get given and thinking about where they should go. For instance, ordinary capital spending is always included in core spending. We objected to the idea of windfall capital. It is just another form of capital and why would we call it something different? This would be included. Perhaps this is part of the reason I find that the distinction between core and non-core spending is less helpful now. We come to the idea that "in principle it could have been". We end up having these debates about whether one thing should be core or not core. After the second or third year, we have always included the Ukrainian assistance as part of core spending. Our big complaint about the budget was that, as Deputy Doherty said, it was just disappearing.

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